During the week ending July 17, steel scrap prices in the Chinese domestic market have mostly increased, though remaining stable in Handan and Anyang due to environmental protection measures taken to tackle air pollution, while transaction activity in the overall market has been at low-to-medium levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, semi-finished steel and finished steel prices in China have increased, bolstering steel scrap prices. Scrap suppliers have mostly been maintaining a wait-and-see stance towards the scrap market, expecting better prices. Meanwhile, scrap inventories on the steelmakers’ side have decreased, providing support for scrap prices. It is thought that steel scrap prices in the Chinese domestic market will likely increase in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,575 |
385 |
↑80 |
|
Liupanshui |
2,170 |
325 |
↑10 |
||
|
Zhangjiagang |
2,495 |
374 |
↑45 |
||
|
Handan |
2,450 |
367 |
0 |
||
|
Nanchang |
2,570 |
385 |
↑20 |
||
|
Anyang |
2,330 |
349 |
0 |
||
|
Jinan |
2,425 |
363 |
↑35 |
||
|
Average |
2,431 |
364 |
↑27 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.68